Pete's NYC Luxury Real Estate Market Report March 4-10, 2024
While the total number of signed contracts above $4 Million was actually higher than last week, the total amount of these contracts dipped to $197 Million, bucking the $200 Million+ trend set over the past month.
The average and median last asking prices also dipped to roughly $7 Million and $6.2 Million respectively. The discount from the original asking price tightened to 8% from last week's 11% and the average days on the market increased to 641.
No surprise that condo's led the charge again, accounting for just over 71% of the contracts signed, while co-ops and townhouses signings were roughly equal at 14.5%.
The top signed contract last week was 1 West End Avenue #29B. This 5300 sqft apartment with 3300 sqft of outdoor space has finally seemed to have found a buyer after being on and off the market for almost 8 years and I suspect that upon closing the final price will come in a bit lower than the last asking price of $17.95 Million.
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Source: The Olshan Report